Hyde provides GCEDC board with year-end review

Press release:

Genesee County Economic Development Center (GCEDC) president and CEO Steve Hyde provided the GCEDC board of directors a report on the agency’s annual performance in 2014 at its December board meeting.  The report included a review of year-to-date capital/business investments, pledged job creation estimates, advancement of the shovel ready phase of STAMP and initiatives with local governments, among others.

Hyde reported to the board that the GCEDC exceeded its capital and business investment goal of $32 million with a total of $58.07 million invested on various projects throughout the year, including the expansion of Yancey Fancy’s in Pembroke and Liberty Pumps in Bergen.  The agency did not achieve its pledged job creation goal of 200 with the pledged creation of approximately 141 jobs from new projects in 2014.

At the same time Hyde noted, the agency was able to put together an incentive package to retain approximately 98 manufacturing jobs at U.S. Gypsum in Oakfield.  In addition, agency staff helped the new owners of P.W. Minor navigate through the state funding process which helped keep the company open retaining approximately 50 manufacturing jobs in Batavia.

"It was another good year for the agency in terms of creating new jobs as well as retaining jobs at US Gypsum and PW Minor," said Wally T. Hinchey, Chairman of the GCEDC.  “The Genesee County economy continues to be one of the strongest in the region and 2015 should be no different as STAMP continues to move forward."

Significant strides were made to bring STAMP further along in making the site shovel ready for future development, including survey work, engineering and design work for water and sewer infrastructure. Of note was the dedication of $33 million in the New York State 2014-2015 budget for STAMP.  The GCEDC staff continues its close collaboration with New York State and NY Loves Nano to market and promote the STAMP site nationally and internationally to high tech manufacturers.

Another performance goal for 2014 was to enhance initiatives and outreach with local government entities throughout Genesee County.  The GCEDC worked closely with the Town of Batavia to secure potential funding opportunities to extend existing infrastructure at the Agri-business Park.

Lastly, GCEDC conducted outreach meetings with various localities as well as collaboration with the City of Batavia, Batavia Development Corp. and the Batavia Business Improvement District to implement the re-development of the Batavia Opportunity Area (BOA).

“The performance goals set by the GCEDC are certainly challenging, but if there was not a collective belief that we have the right formula for economic success, then we would not create such aggressive targets,” said Hyde.  “We look forward to generating even more economic development success in 2015.”